Mohawk Industries (NYSE:MHK – Get Free Report) issued an update on its second quarter earnings guidance on Thursday morning. The company provided earnings per share guidance of $2.68-2.78 for the period, compared to the consensus earnings per share estimate of $2.68. Mohawk Industries also updated its Q2 2024 guidance to 2.680-2.780 EPS.
Analyst Upgrades and Downgrades
MHK has been the topic of a number of recent research reports. The Goldman Sachs Group boosted their price target on shares of Mohawk Industries from $105.00 to $120.00 and gave the stock a buy rating in a research note on Thursday, January 11th. Wells Fargo & Company decreased their price target on shares of Mohawk Industries from $105.00 to $100.00 and set an underweight rating for the company in a research note on Monday, January 22nd. StockNews.com upgraded Mohawk Industries from a hold rating to a buy rating in a report on Saturday, February 17th. TheStreet upgraded Mohawk Industries from a d+ rating to a c- rating in a report on Monday, March 4th. Finally, Royal Bank of Canada boosted their price objective on Mohawk Industries from $101.00 to $106.00 and gave the company a sector perform rating in a research report on Monday, February 12th. One research analyst has rated the stock with a sell rating, three have given a hold rating and five have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of Hold and a consensus price target of $118.75.
Mohawk Industries Price Performance
Mohawk Industries (NYSE:MHK – Get Free Report) last released its quarterly earnings results on Thursday, April 25th. The company reported $1.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.70 by $0.16. Mohawk Industries had a negative net margin of 3.77% and a positive return on equity of 7.71%. The firm had revenue of $2.68 billion for the quarter, compared to the consensus estimate of $2.64 billion. During the same quarter in the previous year, the firm posted $1.75 EPS. The firm’s quarterly revenue was down 4.5% on a year-over-year basis. As a group, sell-side analysts predict that Mohawk Industries will post 9.56 earnings per share for the current fiscal year.
Insider Buying and Selling at Mohawk Industries
In other news, VP Rodney David Patton sold 1,551 shares of the stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $119.51, for a total value of $185,360.01. Following the completion of the transaction, the vice president now owns 15,321 shares of the company’s stock, valued at $1,831,012.71. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 17.10% of the company’s stock.
Mohawk Industries Company Profile
Mohawk Industries, Inc designs, manufactures, sources, distributes, and markets flooring products for residential and commercial remodeling, and new construction channels in the United States, Europe, Latin America, and internationally. It operates through three segments: Global Ceramic, Flooring North America, and Flooring Rest of the World.
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